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in washington president obama is meeting with washington to discuss the fiscal cliff. the automatic government spending cuts that will kick in. republicans and the white house sent to have finally found some common ground both sides agreeing that tax revenue and reductions in entitlement spending for programs like medicare are key elements of this bill. republicans may be softening on raising taxes for the wealthy americans. the white house may be bending on accepting greater spending cuts for medicare and possibly raising the medicare retirement age 65 age from 65 to 67. >> thank you mark. we will take a quick break the time is 6:38. we are following the weather. we have quite a bit of rain coming down quite a bit in the bay area especially in the east bay. george is following a hot spot in interstate 80, a backup sonically basically from berkeley up to the cartoonist bridge. george will let us know why and what is going (male announcer): live from the bay area this is the kron 4 morning news. kron 4 news starts now. >> thanks for watching kron fours bay area news channel. here are the top st
. >> good morning. >> reporter: good morning. it's about the "fiscal cliff" on wall street but we have a number of positive signals on the economy. consumer spending did pull back in october according to the commerce department by 2/10 this is the of a percent following an 8/10th of a percent of gain in the previous month. superstorm sandy depressed spending. unless holiday sales soar over the 4th quarter it's going to be tough for the economy to continue the gain of 2.7% that the commerce department reported in the 3rd quarter yesterday. stockton focused on any talks out of d.c. -- stock market focused on any talks out of d.c. on the "fiscal cliff." the dow over 13,000. pretty modest start to the day today. right now the dow is up by 5 points. nasdaq though falling by 3. s&p down by one. social game maker zynga getting hit hard after announcing it and facebook are changing their partnership. zynga down 7.5%, facebook down slightly. back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> a tale of two uncomfortable pairings. first the san francisco 49ers with two s
deep spending cuts made to avoid the fiscal cliff would affect native-american issues. and you may remember yesterday, the president met with a group of six governors on this issue. this has become the primary focus on washington. alison burns is in our d.c. newsroom with more on this. >> reporter: that's right, tori. president obama is trying to convince these business leaders that he has a plan to avoid the fiscal cliff and get the economy back on track. but he says it's going to take some sacrifice. here's a look at the president shaking hands with business leaders about 15 minutes ago and he's calli for tax increases on the wealthiest americans and an extension of tax rates for the middle school. talks have fallen apart in recent days. but the president insists he's working with republicans to try to get a deal. republicans are willing to cut -- >> reporter: republicans are willing to cut loopholes. here's what john boehner said. >> the revenues being put on the table are gonna come from guess who? the rich. >> reporter: republicans say it's clear to them that president obama
. >> reporter: and secretary panetta has warned the fiscal cliff would hurt our national defense. he's expected to hold a news conference any minute now. he's getting the order from the white house to brace for massive budget cut us. now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be among the group of perform. president calvin coolidge started this tradition back in 1923. >>> well, free flu shou
of the four fire stations periods >> there is 26 days until the fiscal cliff. the expiration of the bush tax cuts for all americans, and automatic government spending cuts that will kick in and republicans and the white house seem to have found some common ground. both sides are green that tax revenue and reductions in entitlement spending are key elements of the deal. republicans may be softening on raising taxes for wealthier americans and the white house may be on accepting a greater spending cut for medicare. >> we will be right back as kron 4 news continues. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's a kicker... again, again! oh, no you don't! take a step forward and chase what matters. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids i
. >>> president obama dispatched his chief negotiator to capitol hill to work on a deal to avoid the "fiscal cliff." today treasury secretary tim geithner met with house and senate leaders. republicans came out of that meeting saying that the white house needs to get serious about spending cuts. >> it's time for the president, congressional democrats to tell the american people what spending cuts they are really willing to make. >> let's give a christmas present to the american people. and all we're saying is, we're willing to make the cuts. >> coming needs to reach an agreement in the next few weeks in order to avoid a series of automatic tax hikes and spending cuts in january. >>> oh, to be a fly on the wall on this one. president obama and mitt romney met privately at the white house today to chew over the nation's economic issues. it was the first time they have been together face to face since their contentious campaigns. cbs reporter tara mergener on the political power lunch. >> reporter: mitt romney got out of an suv and walked into the white house alone. the former republican nominee then
until the fiscal cliff and the republicans and the white house seemed to of found some common ground. both sides agree that tax revenue and and reduction in entitlement spending in medicare are key elements in the deal. the republicans may be softening on raising taxes for the wealthiest americans. the white house may be bending on some greater spending cuts for medicare and raising the age from 65 to 67. they will be work meeting witlater on. >> if you can see the rain coming down, livermore is getting hammered. we will be right back. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and
time to come up with a compromise to avoid a fiscal cliff. that a looming deadline is not bringing party leaders in a closer together. >> our reporter has the latest. >> the democrats have yet to get serious about a spending cut specifics will revealed thursday the plan calls for 1.6 trillion dollars in tax increases and reforms. it leaves changes to medicare and other government assistance programs to be figured out next year. the gop says it needs those answers now. i have made clear that we have put real concessions on line by putting revenue on the table right up front. unfortunately many democrats continued to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> he said he would be released to negotiate tax reform next year. the democrats and some republicans are pushing for the senate to immediately pass the senate bill that would keep taxes from rising on middle-class americans. >> i am happy to report to you when you already know. more and more republicans are catching on to that fact. >> today president obama takes
Search Results 0 to 7 of about 8